The tech unicorn fever in Israel is showing no signs of subsiding. Three more local cyber companies— Wiz, Orca Security, and Axonius-- are planning to announce in the coming weeks that they have completed large funding rounds at valuations topping $1 billion each. All three companies raised more than $50 million in 2020 and are taking advantage of the readily available capital to secure additional rounds, while upping their valuations, shortly after their previous ones.
Assaf Rapaport. Photo: Nathaniel Tobias Wiz is the youngest of the three, having only been founded in 2020 and having just recently completed its series A funding round. According to market estimates, Wiz’s upcoming round will raise over $100 million and catapult the company’s valuation to well over a billion dollars. Wiz completed its first capital raise only in December, in which it secured $100 million from a series of leading investors, including VC funds Index Ventures, Sequoia, Insight Partners, and Cyberstarts, and private investors like Yevgeny Dibrov and Nadir Izrael, the co-founders of Armis Security, which was sold to Insight in a $1.1 billion deal.